'Digital Economy': You Don't Have A Choice

"The last 10 years of IT have been about changing the way people work. The next 10 years of IT will be about transforming your business." — Aaron Levie, CEO of Box

This is a shallow dive in a deep pool. What is the digital economy? What does it mean for companies that must operate within it? What does counsel need to know in order to advise management? What does counsel tell its board of directors?

What is it?

The digital economy is an inclusive catch phrase understood to capture the impact of digital technology on everything in your business. The definition includes what happens inside your company: how your people work together, how you communicate, how you market and sell, how you order parts or services and manage inventory, how you bill and collect, how you hire, how you use big data and artificial intelligence (AI) to achieve efficiency, identify opportunities and increase profitability, how you determine what business you should be in (if not the business